My prior post was focused only only half your question. 

Getting your license is the easy part, however, as Charlie also pointed out above, each State has different licensing laws that generally require an Agent to affiliate with an established Brokerage and to have a number of years (generally 2) experience prior to going on their own. 

I don't really understand what was special about the last 12 months (according to her narrative the tightening started before Covid 19) then the years prior to that.   

Purchase price: $450,000 Cash invested: $120,000 My first duplex, purchased October 2019, built in 1958, completely legal duplex, with new furnace and A/C installed by sellers prior to closing.

Plus, NOLs from prior years can also be used to reduce the tax impact of the UBTI tax. 

I grew up in a suburb of Detroit and sold real estate there prior to moving to Traverse City 17 years ago.

Purchase price: $117,500 Cash invested: $20,000 Sale price: $189,900 Bought a VA Foreclosure in the Sneads Ferry area and doing a live in renovation prior to myself and soon to be wife moving in.

And to qualify for that you must have a qualified intermediary in place prior to the sale and. you cannot touch the money. 

In either case, since the HELOC lender is recorded prior to the mtg being foreclosed the lender is neither a necessary nor proper party to the foreclosure since it has priority of record.In this kind of situation, where the third lender's money went to pay off the first lender's money I frequently used a theory called equitable subrogation to defeat the priority of the second lender. 

Anyone with prior experience doing a seller-financing deal (MHP or commercial or really anything), please help!